Coles has launched a new round of its Nurture Fund, with small to medium size businesses able to apply for grants of up to $500,000.
The fund is open to innovative Australian producers and manufacturers that have fewer than 50 full time employees and turnover of less than $25 million in annual revenue.
Previous projects funded by the Coles Nurture Fund include a vacuum truck to collect manure to convert into renewable energy, Australia’s first quinoa processing facility, and a state-of-the-art factory to grow grass indoors.
Coles Group general manager of corporate and Indigenous affairs, Sally Fielke, said since 2015, the Nurture Fund has committed more than $30 million in financial support to more than 90 Australian producers.
“Helping them transform their infrastructure, reduce waste, become more energy efficient and install new equipment to support greater volumes of fresh produce.
“This year, we want to enable more businesses to invest in projects that drive innovation and improve sustainable practices in their farms and facilities,” Fielke said.
National Farmers Federation CEO Tony Mahar said innovation and sustainability were ‘two key pillars’ that would drive the farm sector’s future success.
“Australia’s farm sector has such exciting opportunities ahead of it as we pursue our ambition to become Australia’s next $100 billion industry.
“We know that innovation and sustainability are critical to the future of Australian farming, and it’s great to see this investment helping farmers to innovate and grow their businesses,” Mahar said.
In 2018, Victorian beef producers, Endhill, received a $400,000 grant from the Coles Nurture Fund to buy state-of-the-art machinery to harvest lucerne in the paddock and convert it to pellets for cattle. The pellets are easier to handle and store than hay bales and can be fed to cattle to supplement grass.
Endhill Pty Ltd general manager Dane Martin encouraged other Australian producers to apply to the Coles Nurture Fund.
“Without the Coles Nurture Fund, we probably wouldn’t have been able to get this project off the ground. I certainly would encourage other producers to apply for the Coles Nurture if they have an innovative idea or a plan to become a more sustainable business,” said Martin.
Applications for Round 11 of the Coles Nurture Fund close at 5pm AEST on Friday, 24 February 2023.
